Analysts Set Holley Inc. (NYSE:HLLY) PT at $6.63

Holley Inc. (NYSE:HLLY) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.63.

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 price target on shares of Holley in a research note on Wednesday.

Holley Price Performance

Shares of NYSE HLLY opened at $2.98 on Thursday. The company has a 50 day simple moving average of $2.83 and a two-hundred day simple moving average of $3.09. Holley has a fifty-two week low of $2.29 and a fifty-two week high of $5.23. The company has a market capitalization of $357.00 million, a price-to-earnings ratio of 22.92 and a beta of 1.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. During the same period last year, the business earned $0.03 EPS. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. Analysts expect that Holley will post 0.12 EPS for the current fiscal year.

Insider Activity

In related news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the transaction, the director now owns 41,556,961 shares in the company, valued at $124,670,883. This represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

A number of hedge funds have recently added to or reduced their stakes in HLLY. Verition Fund Management LLC bought a new stake in shares of Holley in the third quarter worth $35,000. Intech Investment Management LLC purchased a new position in Holley in the third quarter worth about $41,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Holley during the 2nd quarter valued at about $42,000. SG Americas Securities LLC purchased a new stake in shares of Holley during the 3rd quarter valued at about $52,000. Finally, Virtu Financial LLC bought a new position in shares of Holley in the 3rd quarter worth approximately $54,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Company Profile

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.